Beyond Air (NASDAQ:XAIR) Coverage Initiated by Analysts at Lake Street Capital

Analysts at Lake Street Capital started coverage on shares of Beyond Air (NASDAQ:XAIR) in a report released on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $10.00 price target on the stock. Lake Street Capital’s price target suggests a potential upside of 151.89% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

Beyond Air Price Performance

Shares of NASDAQ XAIR opened at $3.97 on Tuesday. The company has a debt-to-equity ratio of 7.81, a current ratio of 3.31 and a quick ratio of 3.12. Beyond Air has a 1-year low of $3.85 and a 1-year high of $95.60. The company has a market capitalization of $3.81 million, a price-to-earnings ratio of -0.06 and a beta of 0.23. The business has a 50-day moving average of $6.57 and a 200-day moving average of $10.68.

Beyond Air (NASDAQ:XAIR) last announced its earnings results on Thursday, August 13th. The company reported ($11.00) EPS for the quarter, missing the consensus estimate of ($10.80) by ($0.20). The company had revenue of $1.77 million for the quarter, compared to analysts’ expectations of $1.93 million. Beyond Air had a negative net margin of 435.71% and a negative return on equity of 440.26%.

Insider Buying and Selling at Beyond Air

In other Beyond Air news, CEO Robert Scott Goodman bought 34,722 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $5.76 per share, with a total value of $199,998.72. Following the completion of the transaction, the chief executive officer owned 34,822 shares in the company, valued at $200,574.72. The trade was a 34,722.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings in Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Beyond Air during the 3rd quarter worth approximately $48,000. Geode Capital Management LLC raised its position in shares of Beyond Air by 57.5% in the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after purchasing an additional 24,695 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Beyond Air in the 3rd quarter valued at approximately $1,753,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.